Palkhivala Foundation is a trust formed by a few like-minded individuals, to promote the values cherished by Mr. Palkhivala, the great jurist and visionary for the well being of our society. Nani Palkhivala Arbitration Centre (NPAC), is a non-profit company registered under section 25 of the Companies Act, 1956. NPAC was founded by the Palkhivala Foundation to promote institutional arbitration in India, keeping in mind the growing burden on Indian courts and the inordinate delay in disposal of cases.
NPAC has been formally recognized by the Madras High Court to render assistance in arbitration matters by its order dated 21.9.2005. The key purpose of establishing the centre is to provide quick, efficient and cost effective arbitration services and to disseminate information relating to arbitration.
NPAC works under the overall guidance of a Governing Council headed by Justice M. N. Venkatachaliah, former Chief Justice of India, Mr. Soli J. Sorabjee, former Attorney General of India and Senior Advocate, Mr. Habibulla Badsha, former Advocate General of Tamil Nadu and Senior Advocate, Mr. K. K. Venugopal, Attorney General of India, Senior Advocate, Supreme Court of India, Mr. B. S. Raghavan. I. A. S. (Retd.), former Advisor to the United Nations (FAO), Mr. Iqbal Chagla, Senior Advocate, Bombay High Court and Mr. T. S. Krishnamurthy, former Chief Election Commissioner of India.
NPAC's Board of Directors comprises Mr. S. Mahalingam, former Chief Financial Officer, Tata Consultancy Services, Mr. Arvind P. Datar, Senior Advocate, Madras High Court and Supreme Court of India, Mr. V. S. Jayakumar, Advocate, Madras High Court, Mr. N. L. Rajah, Senior Advocate, Madras High Court, Mr. R. Anand, Chartered Accountant, Mr. R. Murari, Senior Advocate, Mr. M. S. Krishnan, Senior Advocate, Mr. Gaurav Pachnanda, Senior Advocate, Supreme Court of India ,Mr. K. Balaji, former Director, Kasturi and Sons Ltd and Ms. Payal Chawla, Advocate, Founder - JusContractus.
NPAC has its own clauses which could be incorporated in all existing and pre-existing contracts between the parties. NPAC is one of the few recognized institutions on arbitration in India with an outstanding panel of arbitrators comprising not only retired judges and lawyers but also chartered accountants, civil servants, engineers and other professionals. Its rules have adopted the best practices in international centres. NPAC has so far conducted 16 institutional arbitrations within the time frame mentioned in the NPAC rules book. NPAC has become increasingly popular and the preferred venue for conducting arbitration proceedings.